Recurrent Energy And SMUD Ink 60 MW Solar Contract

Posted by Joseph Bebon on January 24, 2017 No Comments
Categories : Projects & Contracts

Recurrent Energy, a wholly owned subsidiary of Canadian Solar Inc., has secured a 20-year power purchase agreement (PPA) for 60 MW of solar energy with the Sacramento Municipal Utility District (SMUD).

Under the PPA, SMUD will receive electricity from the 60 MW Tranquillity 8 Verde solar PV project, located in Fresno County, Calif. Construction of the project is expected to begin in mid-2017. The project, which will generate enough electricity to power approximately 15,000 homes, will begin delivering power to SMUD in support of its SolarShares program and other renewable energy goals by early 2018.

“SMUD continues to add more renewable, non-carbon supplies to our power mix,” says Sherri Gervin, SMUD’s supervising principal energy trading commodity contracts specialist.

According to Gervin, “SMUD was the first large California utility to have 20 percent of its power supply come from sources classified by California as renewable and is on track to meet the state mandate requiring utilities to increase their renewable portfolio to 33 percent by 2020. In the last decade, the renewable portion of our power mix has grown from 7 percent to 28 percent.”

Tranquillity 8 Verde is Recurrent Energy’s fifth solar project with SMUD. In 2012, Recurrent Energy completed a portfolio of four projects that supply power to the municipal utility under multiple 20-year PPAs.

“We are proud to partner with SMUD to continue delivering reliable, cost-competitive solar power to their customers,” says Dr. Shawn Qu, chairman and CEO of Canadian Solar. “SMUD is a leader in driving adoption of large-scale solar power and should be commended for its sustained commitment.”

Tranquillity 8 Verde is part of the 200 MW Tranquillity 8 project being developed by Recurrent Energy. The remaining 140 MW will be bought by MCE, Pacific Gas and Electric Co., and Southern California Edison under long-term PPAs.

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